Arbitrum Freezes KelpDAO Hack Funds, Exposing Crypto’s Biggest Lie

Arbitrum’s Security Council has frozen 30,766 ETH tied to the KelpDAO exploit, moving the funds out of an address on Arbitrum One and into an intermediary wallet that now requires further governance action to unlock. At roughly $71 million, the move was large enough on its own. What made it more consequential was the method: a crypto governance body stepping in directly to override the normal finality of chain-held funds. In its statement, Arbitrum said: “The Arbitrum Security Council has taken